10-Q · May 13, 2026
MultiSensor AI Holdings, Inc. reported Q1 2026 revenues of $1.614 million, a 37.9% increase from $1.170 million in Q1 2025, while gross margin slipped to 46.4% from 59.3%. EPS improved to -1.23, beating expectations and…
Earnings analysis · 10-Q
MSAI earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
MSAI’s second-quarter revenue was $1.695 million, below the $2.1 million consensus estimate, while diluted EPS of $(1.19) modestly beat the $(1.20) estimate and improved from $(4.00) year over year. Software revenue…
Read full summary
MSAI’s second-quarter revenue was $1.695 million, below the $2.1 million consensus estimate, while diluted EPS of $(1.19) modestly beat the $(1.20) estimate and improved from $(4.00) year over year. Software revenue grew 85% to $0.7 million, but the company remains loss-making and continues to face commercialization and dilution risks. No quantitative forward guidance was provided, and management reported effective disclosure controls as of June 30, 2026.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-1.19
What stood out
-
Revenue increased but missed consensus
Revenue was $1.695 million, up year over year but below the $2.1 million consensus estimate by approximately $0.405 million, or 19%.
-
Software revenue accelerated
Software revenue was $0.7 million, an 85% year-over-year increase, indicating continued acceleration in the company’s software business.
-
EPS loss improved year over year
Diluted EPS was $(1.19), slightly better than the $(1.20) consensus estimate and improved from $(4.00) in the prior-year quarter.
-
Controls remained effective
Management concluded that disclosure controls and procedures were effective as of June 30, 2026, and reported no changes in internal control that materially affected, or were reasonably likely to materially affect, financial reporting.
-
Director equity awards disclosed
The company granted directors an aggregate of 11,214 immediately vested RSUs on June 30, 2026, providing disclosed equity compensation during the quarter.
What to watch
-
Operating losses remain significant
The company reported diluted EPS of $(1.19), indicating that losses remain substantial despite improvement from $(4.00) in the prior-year quarter.
-
Revenue conversion remains uneven
Revenue of $1.695 million was approximately 19% below the $2.1 million consensus estimate, highlighting execution and commercialization risk.
-
Material executive equity awards
On July 16, 2026, executives received 38,776 RSUs and 124,578 PSUs at target, in addition to 22,440 PSUs for the 2025 tranche; the awards may increase dilution and equity-compensation expense.
-
No new risk-factor changes
The filing states that there have been no material changes in risk factors since the 2025 Annual Report; therefore, no new filing-specific risk-factor change was identified.
Management's outlook
No quantitative forward revenue or EPS guidance was provided in the filing; the report states that the company is not required to provide quantitative and qualitative market-risk disclosures as a smaller reporting company.
Earlier filings 4
10-K · March 19, 2026
MultiSensor AI positions itself as an early threat detection / predictive maintenance SaaS platform, emphasizing a shift from transactional hardware to a unified edge-to-cloud platform (MSAI Connect) and reporting 730…
10-Q · August 13, 2025
MSAI reported Q2 revenue of $1,419,000 and a net loss of $3,322,000 (loss per share $0.10). Revenue fell vs. Q2 2024 ($2,125,000) driven by a hardware decline, while software and services grew; gross margin compressed…
10-K · March 29, 2024
MSAI positions itself as a developer of multi-sensor thermal/hardware platforms plus cloud SaaS (SmartIR / MSAI) addressing four industrial verticals. The company estimates a TAM of approximately $14 billion (about $9…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.